SMC Update 4-22-21

04/22/2021


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dciwinski973
dciwinski973

Thank you Peter. Hope you are having good time with family and will enjoy the Easter celebration. Any update on the advance-decline would be great for the weekend. I believe one anticipation was that the market would bounce off the a/d line turn down and then perhaps have the a/d line show weakness but have the price action go higher showing divergence. Would this be the big tell that the top is in?

Hsiang76
Hsiang76

Observing now the SP500 at 4175 (exactly noon time), we can forget about all the downside projection targets. As matter of fact a higher all time high projection just got generated using same period offset I believe..

spencerdavis2000
spencerdavis2000

thanks Peter have a great vacation and Holiday :)

Optimus
Optimus

Hsiang76 said:

Observing now the SP500 at 4175 (exactly noon time), we can forget about all the downside projection targets. As matter of fact a higher all time high projection just got generated using same period offset I believe..

Thanks for that. I was able to get in on SPY yesterday. What are you seeing for the projection assuming we hold to close? My estimate is the 4350 area.

Optimus
Optimus

Thanks, Peter. Happy Easter! Congrats on your grandson and stay safe. Definitely exciting to see this tug in the averages. Didn't realize the big gap for a possible move up. That software is something to behold. In any case, over the last week, I rejigged my portfolio to mostly SPY--from owning too many individual stocks---as we dance but staying close to the exit. So, now just couple of sell orders to place are all I would need. Thanks again for the insights and taking time away from your family.

Last updated

Hsiang76
Hsiang76

Optimus said:

Hsiang76 said:

Observing now the SP500 at 4175 (exactly noon time), we can forget about all the downside projection targets. As matter of fact a higher all time high projection just got generated using same period offset I believe..

Thanks for that. I was able to get in on SPY yesterday. What are you seeing for the projection assuming we hold to close? My estimate is the 4350 area.

I think based on non cycle indicator especially sentiment indicators (market is still very bullish biased), should the cycle projection be correct and all long term target having been met, we probably will go all the way to the upper threshold of Peter’s price target. In short, yes, around 4300+

Optimus
Optimus

Hsiang76 said:

I think based on non cycle indicator especially sentiment indicators (market is still very bullish biased), should the cycle projection be correct and all long term target having been met, we probably will go all the way to the upper threshold of Peter’s price target. In short, yes, around 4300+

Thank you for the assessment. Appreciate it very much. What did you think of the action at the close? S&P dropping to close at 4180.17 is of concern to me because it came down to close below the upper line of the channel Peter had shown on Thursday's update. I am still learning and I am sure Peter will touch on this development on the weekend's update. Thanks again.

mknapp281061
mknapp281061

I know this might be silly to many......but full moon Tuesday / Wednesday. Full moons not always but many times produce crazy behavior.

dciwinski973
dciwinski973

mknapp281061 said:

I know this might be silly to many......but full moon Tuesday / Wednesday. Full moons not always but many times produce crazy behavior.

Tom McClellan (McClellan Oscillator) talks about full moons and the gold cycle. Maybe not as silly as you think.

Hsiang76
Hsiang76

Optimus said:

Hsiang76 said:

I think based on non cycle indicator especially sentiment indicators (market is still very bullish biased), should the cycle projection be correct and all long term target having been met, we probably will go all the way to the upper threshold of Peter’s price target. In short, yes, around 4300+

Thank you for the assessment. Appreciate it very much. What did you think of the action at the close? S&P dropping to close at 4180.17 is of concern to me because it came down to close below the upper line of the channel Peter had shown on Thursday's update. I am still learning and I am sure Peter will touch on this development on the weekend's update. Thanks again.

I think will simply go higher. Breaking 4200 is for sure!

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